FMC Technologies (FTI) Releases Earnings Results, Beats Expectations By $0.12 EPS

FMC Technologies (FTI) announced its most recent quarterly financial results on Wednesday, Oct-19-2016. FTI said it had a profit of $0.35 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.12. Analysts had a consensus of $0.23. The company posted revenue of $1091.20 million in the period, compared to analysts expectations of $1145.75 million. FTI’s revenue was down -29.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.61 EPS.

Many Wall Street Analysts have commented on FMC Technologies. FMC Technologies was Upgraded by CapitalOne to ” Overweight” on Aug 25, 2016. Shares were Reiterated by FBR Capital on Jul 27, 2016 to “Mkt Perform” and Lowered the Price Target to $ 27 from a previous price target of $28 .Shares were Reiterated by Scotia Howard Weil on Jul 25, 2016 to “Sector Outperform” and Lowered the Price Target to $ 32 from a previous price target of $35 .

FMC Technologies closed down -0.12 points or -0.38% at $31.73 with 30,10,420 shares getting traded on Friday. Post opening the session at $32, the shares hit an intraday low of $31.63 and an intraday high of $32.05 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Aug 23, 2016, Sanjay Bhatia (VP, Corporate Development) sold 2,800 shares at $28.44 per share price. According to the SEC, on Feb 22, 2016, Bradley D. Beitler (V.P., Technology) sold 2,836 shares at $24.64 per share price. On Jan 4, 2016, Maryann T. Mannen (EVP and CFO) sold 8,500 shares at $29.50 per share price, according to the Form-4 filing with the securities and exchange commission.

FMC Technologies Inc. is a provider of technology solutions for the energy industry. The Company’s segments include Subsea Technologies Surface Technologies and Energy Infrastructure. Subsea Technologies designs and manufactures products and systems and provides services used by oil and gas companies involved in deepwater exploration and production of crude oil and natural gas. Surface Technologies designs and manufactures systems and provides services used by oil and gas companies involved in land and offshore exploration and production of crude oil and gas; designs manufactures and supplies high pressure valves and fittings for oilfield service companies and also provides flowback and wireline services for exploration companies. Energy Infrastructure manufactures and supplies liquid and gas measurement and transportation equipment and systems for the production transportation and processing of crude oil natural gas and petroleum-based refined products and the mining industry.

FMC Technologies

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